Based in Amsterdam, Avantium , which spun off from Shell in 2000, is a pioneer company specialized in renewable and sustainable chemicals which develops efficient processes and sustainable products made from biobased materials. (Earlier post.)

Avantium is focused on the development of second generation biofuels and catalytic processes for the efficient production of novel biofuels and bio-based chemicals. One of Avantium’s many success stories is the YXY technology (earlier post) to produce PEF: a completely new, high-quality plastic made from plant-based industrial sugars. PEF is 100% recyclable. It offers a cost-effective solution for applications ranging from bottles to packaging film and fibres, positioning it to become the next generation packaging material.

Funds raised will be used to further commercialize Avantium’s inventions into viable production processes. This will start with the commercialization of the YXY technology, in joint venture with BASF, by building the first commercial scale reference plant for FDCA.

This is an important step in Avantium’s strategic development. Avantium has a proven capacity to attract renowned global partners throughout the entire value chain, such as The Coca-Cola Company, Danone, Toyobo, ALPLA and Mitsui. Besides the YXY technology, the company is working on other projects which for some have reached or entering pilot plant stage.

Avantium issued 9,401,793 shares allowing a capital increase of €103 M. On this basis at €11 per share, Avantium’s market capitalization reaches €277 M. Trading will begin on 15 March 12017 on Euronext Amsterdam and Euronext Bruxelles under the symbol AVTX.